Putin warns of West's "arms race"

February 08, 2008

Laying out his legacy three months before he is to step down, Putin said Russia had to wean itself off energy exports, compete in the world economy and stand up to the West. It was also widely regarded as a manifesto for Dmitry Medvedev, the man he has endorsed to succeed him. Soundbite: Russian President Vladimir Putin (Russian):"It is already clear that a new arms race is being unleashed in the world. It's not our fault. We didn't start it. Developed countries, exploiting their technological supremacy, channel enormous funds -- several times larger than our disposable means -- into the creation of new defensive and offensive systems. Their expenditure on defence cannot even be compared to what we spend."